Public Investment Development Agency is implementing various financial instruments and administering several projects aimed at improving current situation of public infrastructure, urban development, optimization of public infrastructure and energy efficiency improvements.
VIPA grants loans for renovation (modernisation) of subsidised loans according to the programme approved by the Government of the Republic of Lithuania the goal of which is to reduce thermal energy costs, to rationally use energy resources, to ensure effective use of housing, to improve the living environment as well as the quality of residents’ life.
VIPA administers the measure of modernisation of the central authority buildings which is implemented using the money of the Energy Efficiency Fund. As many as up to EUR 65 million are planned to be allocated for the modernisation of public buildings of the central government from this fund. To renovate public buildings of the central authority the repaid subsidy funding model can also be used.
Municipalities wishing to use the guarantee can implement projects themselves or use the assistance of energy efficiency service providers (ETPT). By issuing a guarantee VIPA undertakes to pay to the creditor any outstanding commitments of the debtor (municipality) under the loan contract which were granted to fund the project on the modernisation of street lighting.
Municipalities, which invest in projects funded by the European Union Structural Funds that enable them to save their budget costs and increase their revenues, as of 1 June can receive grants from the state budget to ensure their own contribution. To this end, they can submit applications to VIPA which administers such grants.
VIPA grants subsidised loans for renovation (modernisation) of dormitories of higher education schools and vocational training institutions according to the programme approved by the Minister of Education and Science and the Minister of Environment of the Republic of Lithuania the aim of which is to renew / modernise dormitories of old construction which were built according to the technical construction standards applicable before 1993 so as to ensure rational use of energy resources and improve the conditions of students who live in dormitories.
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